Currency Note Euro

Euro benefits from bad news elsewhere

By Ricky Bean January 14th, 2014

Yesterday was a mixed day for the single currency as it strengthened against sterling, but lost some ground against the US dollar. Despite a relatively quiet day for Eurozone data, the eighteen-nation currency managed to perform well against a weakening sterling, notably pushing below the 1.20 mark for the first time in 2 weeks. The only real data of note from the Eurozone was Italian Industrial Production data, which came out showing less growth than was expected from the sector. Looking ahead to today, Industrial Production figures for the Eurozone have greater potential to impact upon performance, however it is likely that events outside the eighteen-nation bloc will play a greater role ahead of the German Constitutional Court decision on Friday. Call your trader now to discuss the best way to manage your exposure.